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RBS boss deserves his £800k bonus he only earns £7m


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I just read this article about RBS boss Stephen Hester getting an £800k bonus. His basic salary is £1.2 million but ends up around £7 million.

 

http://www.mirror.co.uk/money/city-news/rbs-chief-stephen-hesters-7million-plus-1704316

 

RBS chairman Sir Philip Hampton also defended Mr Hester’s basic wage of £1.2million, performance-related pay of up to £6million and £400,000 pension contributions as “modest” and “below the market rate”.

Isn't it nice to know that our hard earned money which bailed the bank out is being given away to execs on modest salaries. Just shows that people like Hampton do not live in the real world.

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Has he turned rbs around ? Put it back in profit ? Making sure its not robbing people dodgy liebor rates ? Cleared, or is on target for clearing its ppi obligations ? If it's no to any of that tell him shove his bonus up his arse.

 

It seems as if "bonuses" are expected, year in, year out (at least in the financial services industry).

 

It doesn't ever really seem to be performance related either.

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Has he turned rbs around ? Put it back in profit ? Making sure its not robbing people dodgy liebor rates ? Cleared, or is on target for clearing its ppi obligations ? If it's no to any of that tell him shove his bonus up his arse.

 

You probably shouldn't believe what you read in the Mirror.

Hester's bonus's are UP TO...£XXXXXX

 

The big bonus is what he would get if he turned around the bank, met his targets and the bank was able to be privatised. Last year he waived all his bonuses and may well do the same again this year.

What isn't helpful is the media hounding the man and tempting him to abandon the bank and work elsewhere where he isn't pilloried for his every move.

Lets not forget that he was appointed by Gordon Brown & Alistair Darling to run the mostly state owned bank on a salary package that they agreed. Until it is returned to profit we are all paying the bills and a media that is trying its best to bring about the banks downfall isn't helping.

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